HLI HOULIHAN LOKEY, INC. Insider Trading

Co-Chairman Gold Irwin sold 6,811 shares of HLI at $202.75 on 2025-09-16, total value $1,380,930.25.

Gold Irwin, Co-Chairman of Houlihan Lokey, sold 6,811 shares at $202.75 per share on 2025-09-16, representing the entire disclosed equity position in the filed table. This sale occurred near the 52-week high of $208.44, with the stock up 8.5% over the past 30 days and 20.5% over 90 days. Notably, Irwin's two prior sales at HLI showed mixed timing outcomes: the June 2024 sale was followed by a +10.9% 30-day return and +17.0% 90-day return, while the December 2023 sale saw -1.0% 30-day and +2.0% 90-day returns. The company reported revenue of $605,349,000 for the latest quarter with net income of $97,533,000, and annual revenue growth of +24.8%. A FLAG indicates this filing contains a derivative-conversion transaction, meaning the insider's full position may extend to Table II derivative securities not yet populated in our database—this sale should be viewed as a specific batch transaction rather than a complete position exit.

Co-Chairman Paul Eric Siegert sells 40,000 shares of HLI for $7,998,000 at $199.95; conversion-related transaction.

Paul Eric Siegert, Co-Chairman of Houlihan Lokey, sold 40,000 shares at $199.95 on 2025-08-27 for $7,998,000.00, reducing his direct shareholdings to 0 shares. This filing reflects a conversion of derivative securities, meaning the insider's total beneficial interest includes Form 4 Table II holdings not yet captured in our database—consequently this sale should not be construed as a complete exit from HLI ownership. The transaction occurred near the 52-week high of $200.74, with the stock having advanced 4.7% over 30 days and 14.9% over 90 days, suggesting elevated valuation at time of sale. Against a backdrop of strong fundamentals—$605.3M in latest quarterly revenue with annual growth of +24.8% and $97.5M net income—the execution of a derivative-conversion trade by a senior executive warrants monitoring for clarification of his derivative holdings and the business rationale behind the conversion timing.

Co-chairman Scott Beiser sells 8,008 shares of HLI at $178.71 for $1.4M; derivative conversion on file.

BEISER SCOTT L (CO-CHAIRMAN) sold 8,008 shares of HOULIHAN LOKEY, INC. (HLI) at $178.71 on 2025-05-19 for total value of $1,431,109.68. This transaction is flagged as a derivative-conversion transaction; the insider's complete equity position includes derivative securities held in Form 4 Table II, which means the 8,008 share sale does not represent a full exit from economic holdings. His same-ticker history at HLI shows two prior sales (2024-08-16 and 2023-11-03), both of which saw subsequent stock appreciation at the 90-day mark (+1.4% and +3.9% respectively), indicating a pattern of unfavorable timing on prior sales at this ticker. The stock currently trades at $177.42, approximately 0.8% below the transaction price, and has advanced 15.8% over the past 30 days. Company fundamentals show strong recent performance: FY annual revenue growth of +24.8%, latest-quarter revenue of $634.4M, and net income of $95.3M, though the P/E of 0.22 warrants verification for data integrity.

CFO Alley J Lindsey sold 12,500 shares of HLI at $185.49 on 2024-11-07 for $2,318,625; sells 12.5K shares with zero shares post-transaction.

Alley J Lindsey, Chief Financial Officer, sold 12,500 shares of Houlihan Lokey at $185.49 on 2024-11-07 for a total value of $2,318,625.00. This sale represents a conversion of derivative securities rather than a full position exit, and should be understood as a specific batch disposition in the context of the insider's full derivative holdings. The stock subsequently traded near $185.74 (-1.4% from its 52-week high of $188.30), and at his prior similar HLI sale on 2023-11-30 the stock delivered a 20.0% 90-day return afterward—a pattern indicating prior sales at this ticker were not well-timed on the 90-day horizon. With annual revenue growth at 5.8% and the company trading at a notably compressed P/E of 0.33 relative to $93.5M net income on $575.0M revenue, the fundamental context remains stable.

Co-Chairman Scott Beiser sells 8,317 shares of HLI at $151.89 for $1.3M; stock at 52-week high, no derivative holdings data yet.

Scott Beiser, Co-Chairman of Houlihan Lokey, sold 8,317 shares at $151.89 on 2024-08-16, realizing $1,263,269.13 ($1.3M). The transaction occurred at the 52-week high of $152.65, and his previous sale at HLI on 2023-11-03 was followed by a 90-day return of +15.2%, indicating the stock moved higher after that prior sale. However, this filing flags the presence of derivative securities (Form 4 Table II), which are not yet populated in the database; the reported zero post-transaction holdings on Table I may not represent the insider's complete position. Without visibility into derivative holdings, the full economic picture of this sale cannot be assessed.

Co-Chairman Gold Irwin sold 9,902 shares of HLI at $135.25 on 2024-06-28; derivative conversion context, not full exit.

Gold Irwin, HLI Co-Chairman, sold 9,902 shares at $135.25 on 2024-06-28 in a derivative-conversion transaction. This filing involves a conversion of derivative securities, meaning the insider's full position resides in Table II of the Form 4 (not yet populated in our database), and the Table I shares represent only a specific batch being converted and sold—not a complete position liquidation. At the prior HLI sale on 2023-12-27, the stock posted a +2.0% return over 90 days, meaning the insider sold into subsequent gains; this pattern suggests the sale was not well-timed at the longer horizon. The current stock price of $136.24 is -0.4% from the 52-week high of $136.80, placing this transaction near recent peak valuations.